Interviewed in today’s Financial Times, Sir James Dyson says that a new Conservative government should bring in tax breaks for high-tech investment. He also calls the UK’s immigration regime "madness". Sir James: "When they finish their courses, they are evicted by the Home Office". Instead, he says, such talent should enjoy extended leave and preferential residency rules.
Sir James has been surprisingly appointed by David Cameron – the inventor of the bagless vacuum cleaner has always stayed above the political fray – to lead a technology taskforce. The Conservatives have already appointed former "Dragon" Doug RIchard to look into business support; and former BBC director-general Greg Dyke to investigate the creative industries.
Dyson’s main argument to Jonathan Guthrie in the FT is that investors must be given incentives to support the long-term business of technology investment. One suggestion that investors who put more than 20 per cent of their funds into high-tech ventures should pay reduced capital gains and corporation tax. Sir James also points out the dramatically contrasting levels of new technology investment between the UK and US.